Sprouts Farmers Market sees 2023 adjusted EPS $2.41-$2.53, consensus $2.39

"While we recognize the near-term economic environment is difficult to predict, the stability of our recent sales is encouraging," said Chip Molloy, chief financial officer of Sprouts Farmers Market. "We are optimistic about our ongoing cash generation and our ability to invest in our business for growth. During 2023, we expect to open 30 new stores. Additionally, as part of a recent real estate portfolio review, we expect to close 11 stores. The closing stores, on average, are approximately 30% larger than our current prototype and are underperforming financially." The following provides information full-year 2023 outlook: Net sales growth: 4% to 6%, consensus $6.74B; Comparable store sales growth: low single digits; Adjusted EBIT: $355M to $370M; Effective Tax rate: approximately 26%; Adjusted diluted earnings per share: $2.41 to $2.53; Unit growth: 30 new stores, closing 11 stores; Capital expenditures: $210M to $230M